Suns Acquiring Nick Richards In Trade With Hornets, Reducing Luxury-Tax Bill

The Phoenix Suns and Charlotte Hornets have agreed to a trade that will send center Nick Richards and a second-round draft pick to Phoenix in exchange for Josh Okogie and three second-round picks, according to NBA insider Shams Charania of ESPN.

The Suns are expected to send Denver’s 2026 and 2031 second-round picks, as well as their own 2031 pick, to Charlotte as part of the deal.

While it has been reported that the pick sent to Phoenix is for 2025, the exact details remain unclear as the Hornets control multiple second-round picks in that year.

Here are the second round pick details sources tell @ShamsCharania and myself.

To Charlotte

2026 Denver 2nd
2031 Denver 2nd
2031 Phoenix 2nd

To Phoenix

2025 Denver 2nd

— Bobby Marks (@BobbyMarks42) January 15, 2025

Richards, 27, has been a regular in the Hornets’ rotation since the 2022-23 season and started at center during the 2023-24 campaign while Mark Williams was sidelined.

This season, Richards has averaged 8.9 points, 7.5 rebounds, 1.3 assists, and 1.2 blocks in 21.0 minutes per game. He is on a team-friendly contract that pays him $5 million this season with a non-guaranteed $5 million for the following season.

Okogie, whose contract is guaranteed for the 2024-25 season and non-guaranteed in 2025-26, is earning $8.25 million this year. The trade reduces Phoenix’s projected luxury tax bill and provides the Suns with an athletic frontcourt option.

Earlier reports indicated that Phoenix and Charlotte had been discussing a potential NBA trade involving Richards, with second-round draft capital going to the Hornets.

The Suns were reportedly considering moving center Jusuf Nurkic, but Charlotte was unlikely to take on Nurkic’s larger contract, which is worth $18.13 million this season and fully guaranteed for $19.38 million next year.

The Okogie/Richards swap presents a more straightforward cap solution for the Hornets.